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Whether it’s the LinkedIn algorithm, or if it’s just because layoffs are happening that often and impacting that many… the unfortunate news about layoffs seems to be occurring almost on a cadenced, expected basis, more than it ever has in the recent years.
With the shift to remote work all while trying to stay ahead of the rise of AI, businesses often find themselves having planned for a future with full-time employees but then all of a sudden realize that what they thought was the future outlook has completely changed. With how fast technology, the landscape, and business demands are changing, businesses are having a hard time keeping up and planning against rapid advancements, faster than they have ever been before. While no company ever sets out to be on a trajectory of expected layoffs in such a short period of time, businesses are doing their best to try and set up a workforce to address the “now”, while also trying to address the “later”.
In this era of layoffs, businesses are starting to look at more contract or contingent work engagements with talent because they may not want to take the risk of a full-time hire, but need the headcount to address where their business is now. While this hasn’t always been the “norm”, in recent years, this recruitment and staffing strategy has its benefits.
According to a 2022 McKinsey study¹, more than a third of the U.S. workforce identifies as independent workers.
Whether it's project-based work or even the need to fill employee leave, here are the benefits that companies are starting to really see during this time that not only benefit the business, but those that are working as well.
Flexible & Scalable
With contract and contingent workers, you can set up a specific length of time for a specific project that can help address your business needs now, without being concerned with the future outlook. Businesses are always having to make shifts in their strategy, but given the time we are in now, where demands and technology change so quickly, contract work allows you to be more flexible and scale a lot easier without worrying about what that role will do even just one year from now.
Specialized Skills & Fresh Perspectives
Brining in specialized skills is becoming more of a necessity in today’s market, given the technological advancement that all disciplines are starting to see. In addition, introducing talent from different fields, backgrounds, and even new ways of working, enables a business to not only fill gaps, but become more agile in a time where agility is the name of the game.
Contract and Contingent Work can be Cost Effective
Full-time work is what most candidates are looking for, whether it be the health benefits, paid time off, or other company perks. But what’s no longer in that list is“stability”, so interestingly enough, contract and contingent work is now more of an option than it ever has been in the past. Future proofing the business, all while future proofing an employee’s employment is the name of the game now, and it can come at a considerably lower price.
It’s not just about the price tag and expertise…it’s about people.
While businesses focus on these overhead costs and ensuring business critical projects get delivered on time, the one thing that should always be at the center is people. Since most contract work is outsourced through staffing & recruiting agencies, traditional ways of contracting out work is outdated, with very transactional & “checklist” conversations, ghosting, or even very unclear expectations and helpful onboarding to be set up for success.
Here at Nimble Technology Partners, we use hands-on experience with our recruiting efforts and people at the center of what we do. Our promise to our clients and to our consultants is to be an extension of your team because we want both parties to win.
Let our team help you in your staff augmentation and contingent workforce solutions by learning how we can help your team today!
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